Bitcoin Cash Technical Analysis: BCH/USD bulls retreat from the $300-level

• BCH/USD bulls have stayed in control for the second straight day.
• The daily price chart shows strong resistance levels at $302.45 and $310.45.

BCH/USD daily chart

BCH/USD stayed in control of the market for the second straight day as the price went up from $284.78 to $294.25. The price reached intraday highs of $297.65 before the bulls commenced their retreat. The MACD shows increasing bearish market momentum. The relative strength index (RSI) is trending around 57.15.

BCH/USD has strong resistance levels at $302.45 and $310.45. On the downside, we have five healthy support levels at $289.90 (SMA 20), $281.50, $271.25 (SMA 200), $258.68 and $254.50 (SMA 50).

Key levels